Prime Minister Phạm Minh Chính att the business breakfast in Stockholm with executives from Sweden’s leading economic groups on Thursday (local time). VNA/VNS Photo Dương Giang

STOCKHOLM — Prime Minister Phạm Minh Chính has told top business leaders in Sweden that Việt Nam is rolling out comprehensive reforms to eliminate key obstacles in the decision-making process for foreign investment projects.

Speaking on Thursday (local time) at a business breakfast in Stockholm with executives from Sweden’s leading economic groups, PM Chính said Việt Nam aims to cut at least 30 per cent of business investment conditions, reduce administrative processing time by 30 per cent, and lower compliance costs by the same margin.

The meeting was part of his official visit to the Kingdom of Sweden at the invitation of Swedish Prime Minister Ulf Kristersson.

In attendance were Marcus Wallenberg, Chairman of Skandinaviska Enskilda Banken (SEB) and Chair of Wallenberg Investments AB, along with executives from group-affiliated companies such as AstraZeneca and Ericsson. Discussions centred on exploring investment opportunities in Việt Nam across energy, finance, science, technology and telecommunications.

Prime Minister Phạm Minh Chính meets with Marcus Wallenberg, Chairman of Skandinaviska Enskilda Banken (SEB) and Chair of Wallenberg Investments AB in Stockholm. VNA/VNS Photo Dương Giang

Addressing the choice of digital infrastructure partners amid growing concerns over national cybersecurity, PM Chính emphasised that Việt Nam prioritises high-tech, trustworthy and long-standing partners. He highlighted Sweden’s Ericsson as a preferred collaborator.

He encouraged Ericsson and other Swedish enterprises to expand their investments in Việt Nam’s information technology infrastructure, particularly in remote and underserved regions.

Addressing concerns from Swedish businesses about procedural and regulatory hurdles in Việt Nam’s investment landscape, PM Chính emphasised that the country is undergoing a “revolution” in administrative reform to better serve both citizens and enterprises.

PM Chính said Việt Nam is restructuring its State apparatus and implementing a two-tier government model aimed at greater efficiency and responsiveness. He underscored efforts to streamline or eliminate burdensome administrative procedures and noted the launch of the National Investment Portal and National Legal Portal – digital platforms designed to cut time, costs and red tape for investors and the public alike.

PM Chính expressed confidence that Swedish businesses’ concerns will soon be resolved through these ongoing reforms.

On the question of opportunities in clean energy and grid development, the Prime Minister highlighted Việt Nam’s recently approved Power Development Plan 8, along with relevant legislation such as the Electricity Law and private sector development resolutions. These policies aim to attract private investment into energy production and transmission.

Việt Nam has already joined the ASEAN power grid network and is preparing to export clean energy to countries like Malaysia and Singapore. This will create significant investment opportunities for Swedish firms in this field, he added.

Responding to inquiries about opportunities in robotics and semiconductor R&D and production, PM Chính confirmed Việt Nam’s strategic focus on these industries. He called on Swedish companies to invest capital, transfer technology, share management expertise and help train Việt Nam’s high-tech workforce.

He also stressed that Việt Nam has adopted breakthrough policies to promote science, technology, innovation and digital transformation, offering clear direction and transparent, open mechanisms. The country ensures the lawful rights and interests of investors, protects property rights and economic freedoms, and resolves disputes through civil and economic means.

Looking ahead, PM Chính pledged that businesses will experience a new way of doing things and a 'new spirit' in Việt Nam, which is marked by policies designed to create win-win outcomes for investors.

He said that Việt Nam always listens, supports and creates the most favourable conditions possible for all businesses, especially foreign investors, including those from Sweden, to succeed in long-term, sustainable partnerships. — VNS